(Telestock) – Nokiaa Finnish multinational telecommunications company, has announced that the net sales of the second trimester decreased by 18% year-on-year at constant currency (-18% reported) mainly due to the strong year-ago quarter in India, to €4,466 million.
The comparable gross margin in the second quarter it increased by 450 basis points year-on-year to 44.7% (reported increase of 380 basis points to 43.3%), mainly driven by mobile networks, partly benefiting from the resolution of a pending contract negotiation.
The company has recorded a loss of 142 million euros (vs +289 in the same period in 2023), while thecomparable profit was 328 million euros (-20%).
L’Comparable EPS in the second quarter was equal to 0.06 euros, while theEPS was negative by 0.03 euros.
“I am pleased to confirm that the improved order intake momentum we have been talking about over the last two quarters has continued in the second quarter across the group and particularly in Network Infrastructure,” said CEO Pekka Lundmark – This trend means that our order book has further expanded and we expect a significant improvement in net sales in the second half. Overall, the market remains uncertain, so we will continue to be agile and prudently manage our cost base as we navigate this environment.”
“We are currently approaching the midpoint or slightly below the midpoint of our comparable operating profit guidance of between EUR 2.3 billion and EUR 2.9 billion (for the full year, ed.) and towards the upper end of our guidance. guidance free cash flow conversion ratio of between 30% and 60%,” he added.